Cyprus Permanent Residency: How to Get Permanent Residency in Cyprus
The Cyprus permanent residency permit program is a golden ticket for non-EU citizens. With paths like fast track and slow track, the process is a breeze. Embrace the opportunity to secure your permanent residence permit with ease and elegance. It’s your chance to call the beautiful island of Cyprus home!
Cyprus has become a hot spot for individuals and families looking for a good life, tax benefits and a gateway to Europe.
Argentoula Ioannou LLC’s Immigration Lawyers can help you invest in Cyprus property. This is great for residency or meeting income needs for a valid temporary residence permit.
Want to call Cyprus home? Cyprus permanent residency opens the gate and you can work with Argentoula Ioannou LLC to process your applications with you.
Why Cyprus Permanent Residency?
Cyprus is a beautiful Mediterranean island; it’s a land of opportunity for those looking for stability, security and a high quality of life. Cyprus’ permanent residence permit and residency has many benefits for individuals and families alike. Below we’ve listed the main advantages of getting a permanent residence permit in Cyprus:
Benefits of Cyprus Permanent Residency
- Fast Track – 2-3 months application approval, 9+ months total process (investment, documents, biometrics)
- Tax Benefits – Cyprus taxes residents based on income generated in Cyprus. PR does not give automatic tax exemptions. Non-domiciled residents (living in Cyprus <17 of last 20 years) are tax free on dividends, interest and foreign income. Corporate tax 12,5%, no inheritance tax
- High Standard of Living – Top medical services under Cyprus General Healthcare System (GHS)
- Family Included – PR covers spouse, children up to 18 are automatically included. 18-25 years old must prove financial dependency, student status and unmarried status.
- No Renewals – Unlike a valid TRP, PR is lifetime.
- Citizenship – PR holders can apply for citizenship after 8 years of continuous residency (not 5). Spouses of Cypriot citizens can apply after 3 years of marriage and 2 years of residency. Naturalization requires passing Greek language and culture tests.
- Visa-free EU Travel – PR does not grant Schengen visa free travel. But residency simplifies Schengen visa applications and citizenship (after 8+ years) grants visa free EU travel.
- Real Estate Investment – Cyprus real estate PR allows investors to purchase property to qualify for PR in Cyprus by investment.
- Work and Business – PR holders cannot work in Cyprus but can own businesses, receive dividends and be company directors. Employment requires a separate work permit.
- Safe and Secure – Cyprus has political stability, strong legal framework and high standard of living.
Applying for PR in Cyprus means long term security, permanent employment, financial benefits and a pathway to Europe!
Cyprus Permanent Residency Programs: Fast-Track vs. Slow-Track
Cyprus has two main routes for permanent residency in Cyprus: Fast-Track and Slow-Track. Each one is suitable for different types of applicants based on investment potential and processing time.
Cyprus Permanent Residency By Investment: Fast-Track
For those who want an expedited process to Cyprus permanent residency, the Category 6.2 “(Cyprus) Permanent Residency by Investment” is the way to go. You must make a €300,000 investment into a new residential property (resale properties are ineligible). A 5% VAT rate applies if the property is a primary residence for permanent residents (19% otherwise).
Cyprus Slow-Track Permanent Residency (Category F)
For those who want a more affordable option Cyprus slow-track permanent residency under Category F is the way to go. This requires applicants to show an annual income of at least €9,568 to prove they can sustain themselves without employment in Cyprus. There is no investment required but buying property can support an application. Permanent residency in Cyprus for non-EU nationals through this route takes longer, sometimes over a year, but it’s an option for retirees and self-sufficient individuals.
How to Get Permanent Residency in Cyprus: Step-by-Step Process
Getting a permanent residency permit in Cyprus is a process, you have to meet all the legal requirements. Below is a step by step guide:
1. Eligibility Check
Before you apply, check if you are eligible. Cyprus offers permanent residency through investment, employment or long term stay. The most common route to permanent residency through employment is the Fast-Track Residency (Category 6.2) which requires a €300,000 property investment. Another option is long term residency after legally residing in Cyprus for 5 years.
2. Documents
- Valid passport
- Proof of income (minimum €30,000 annually)
- Title deed or property sales agreement
- Clean criminal record certificate
- Medical insurance
3. Application
- Submit your application to the Cyprus Civil Registry and Migration Department, in person or through a Cyprus lawyer.
4. Biometrics
- Attend a biometrics appointment at the immigration office.
5. Timeline
- Fast-Track 2-3 months, other applications 18 months. Once approved you will receive your Cyprus Permanent Residency Card.
Cyprus Permanent Residency Benefits for Families and Investors
The Cyprus residency benefits go beyond the individual applicant and offer long term security and financial benefits for families and investors. Cyprus residency for non-EU citizens allows the inclusion of spouses and dependent children under 18 in the application. Also provides a pathway to Cypriot citizenship after several years of residence.
If you want to invest in your future Cyprus, permanent residency by investment is the right decision. Apply for permanent residency in Cyprus with Argentoula Ioannou today and enjoy the benefits of permanent residency in Cyprus by investment.
